Smart Refinance

Applying for a Smart Refinance is convenient. Here's how it works:

• Apply online, by phone or at any U.S. Bank branch.
• After we have reviewed your application, a U.S. Bank branch officer and/or our Income Documentation Specialist will ask you to provide documentation to underwrite your loan, such as income documents and proof of insurance. Depending on your situation, you may be asked to provide additional documents in order to process your application.
• We will order a property appraisal to value your property.
• Once your application has received final approval, your U.S. Bank branch officer will call you to schedule a loan closing.
• At the closing, you'll sign documents to get your loan. Funds will be available after a waiting period of 3 business days if your loan is secured by a primary residence.

Yes. A Smart Refinance is a first mortgage (a first lien against your home). At your loan closing, you’ll sign a Mortgage/Deed of Trust, which will be filed with the County Recorder's Office.

Smart Refinance is a fixed-rate loan with terms of up to 20 years. It is not a line of credit.

No. A Smart Refinance cannot be used to purchase a property – only to refinance a property you already own. If you are looking to purchase a home, options are available through U.S. Bank Home Mortgage.

Because a Smart Refinance is a mortgage, typically the interest may be tax-deductible. Consult your tax advisor regarding tax deductibility.

Yes. If you have enough equity in your home, you can consolidate a home equity loan or line of credit or other debt (like a credit card or car loan) into a Smart Refinance for a first-lien mortgage loan.

Terms are available up to 20 years.